How Much Are Healthcare MBA Graduates in Demand?
In 2014, the United Bureau of Labor Statistics (BLS) issued a report titled Healthcare: Millions of Jobs Now and in the Future. Between 2012 and 2022, the BLS projected that health care would add over four million jobs, more than any other single sector of the American economy.[i] The reasons for this are obvious: Health care is always in demand, and as the Baby Boomers continue to age into retirement they will exert greater pressure on existing resources. This same aging population will soon vacate many of the health care administration jobs that help the system stay afloat. Amid uncertainty about the future of the Affordable Care Act, there has never been a greater call for able and innovative managers in the field. Spring Arbor University’s online MBA with a concentration in Healthcare Administration prepares students to enter a profession with limitless opportunity.
Health Care Administration Career Outlook
Most health care professions are on the rise, but entry-level health care administration jobs in particular are seeing an unprecedented increase. The latest projections suggest there will be 20 percent more administrators employed in 2026 than there were in 2016, explosive growth given that the median wage for the position is also a healthy $98,350 per year.[ii]
(For reference, Michigan, SAU’s home state, is among the nation’s top 15 in terms of the number of medical and health services managers, with an average wage of $106,000 to $116,000 per year.)
How Can an MBA in Healthcare Administration Help?
Most health care administrators were never medical professionals by trade, though they must be intimately familiar with the landscape. Rather than the body of an individual patient, their concern is the health of the facility they manage, be it a small private practice or a metropolitan hospital. They allocate resources to areas of need, ensure that staff has the support required to perform at their best, navigate the finances of their institution and, in conjunction with doctors and senior executives, dictate the policies that guide how care is delivered.
These tasks require serious business acumen equal to that required of any other corporate or entrepreneurial environment. An MBA with a specialization in health care administration provides graduates with a comprehensive understanding of the modern business world, including personnel management, marketing, finance, leadership and more. Within the health care concentration, students will also develop a nuanced outlook of the industry as it stands today.
At SAU, courses include deep dives into topics such as healthcare-specific managerial finance; the latest approaches on ensuring quality; and the trends which will dictate the sector’s evolution in the decades to come.
A Serious Responsibility
Ensuring the delivery of care demands distinct attributes in a health care. Aspirants must come to work with a genuine concern for improving the lives of the patients they serve. Preventing people from becoming sick, improving their quality of life, ameliorating the effects of illness and granting dignity to the end of life are among the highest callings an individual can pursue. These are as much the province of a health care administrator as they are a doctor or nurse. Spring Arbor University’s online MBA with a concentration in health care administration is conducted with these considerations given precedence in every hour of online study..
For more information about Spring Arbor University’s program and curriculum, please contact us for a program guide.